Yahoo Finance The CEO & Director of Filo Mining Corp. (CVE:FIL), Adam Lundin, Just Bought 40% More Shares
Even if it's not a huge purchase, we think it was good to see that Adam Lundin, the CEO & Director of Filo Mining Corp. (CVE:FIL) recently shelled out CA$100k to buy stock, at CA$1.25 per share. That purchase might not be huge but it did increase their holding by 40%.
See our latest analysis for Filo Mining
Filo Mining Insider Transactions Over The Last Year
Notably, that recent purchase by Adam Lundin is the biggest insider purchase of Filo Mining shares that we've seen in the last year. That means that an insider was happy to buy shares at above the current price of CA$1.10. Their view may have changed since then, but at least it shows they felt optimistic at the time. In our view, the price an insider pays for shares is very important. It is encouraging to see an insider paid above the current price for shares, as it suggests they saw value, even at higher levels. The only individual insider to buy over the last year was Adam Lundin.
You can see the insider transactions (by individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.
Insider Ownership of Filo Mining
Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. We usually like to see fairly high levels of insider ownership. Based on our data, Filo Mining insiders have about 4.3% of the stock, worth approximately CA$4.2m. I generally like to see higher levels of ownership.
So What Do The Filo Mining Insider Transactions Indicate?
It is good to see the recent insider purchase. And the longer term insider transactions also give us confidence. But on the other hand, the company made a loss last year, which makes us a little cautious. While the overall levels of insider ownership are below what we'd like to see, the history of transactions imply that Filo Mining insiders are reasonably well aligned, and optimistic for the future. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. Every company has risks, and we've spotted 6 warning signs for Filo Mining (of which 2 are potentially serious!) you should know about.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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